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VI (Harmonized System 1992 for Section)

2023
World Trade $2.29TRnk 3 / 21
2023
Top Exporter | Top Importer $239B | $316BUnited States | United States
2023
Product Complexity 0.23Rnk 11 / 21
2022 - 2023
Export Growth (CAGR) -6.17%Rnk 12 / 21
2023
Share of World Trade 10.1%Rnk 3 / 21

About

Overview This page contains the latest trade data of Chemical Products. In 2023, Chemical Products were the world's 3rd most traded product, with a total trade of $2.29T. Between 2022 and 2023 the exports of Chemical Products decreased by -6.17%, from $2.44T to $2.29T. Trade in Chemical Products represent 10.1% of total world trade.

Chemical Products include Pharmaceutical products, Organic chemicals, Chemical products n.e.s., Inorganic chemicals, Perfumery & cosmetics, Paints, dyes, & varnishes, Fertilizers, Soap, cleaners, candles, dental, modelling pastes, Glues, starches, & albuminoid products, and Photo & movie goods, among others.

Exports In 2023 the top exporters of Chemical Products  were United States ($239B), China ($226B), Germany ($225B), Ireland ($150B), and Switzerland ($124B).

Imports In 2023 the top importers of Chemical Products were United States ($316B), China ($165B), Germany ($163B), Belgium ($100B), and France ($86B).

Ranking Chemical Products ranks 11th in the Product Complexity Index (PCI).

Latest Trends

Latest Data

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The following visualization shows the latest trends on Chemical Products. Countries are shown based on data availability.

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

Explore Latest Trends

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Historical Data

Exporters and Importers

Top Origin (2023)United States$239B
Top Destination (2023)United States$316B

In 2023 Chemical Products were the world's 3rd most traded product (out of 21).

In 2023, the top exporters of Chemical Products were United States ($239B), China ($226B), Germany ($225B), Ireland ($150B), and Switzerland ($124B).

In 2023, the top importers of Chemical Products were United States ($316B), China ($165B), Germany ($163B), Belgium ($100B), and France ($86B).

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Exporters of Chemical Products (2023)
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Importers of Chemical Products (2023)
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Market Dynamics

Color
Top Origin Growth (2022 -  2023)Slovenia$8.94B
Top Destination Growth (2022 -  2023)Switzerland$9.43B

Between 2022 and 2023, the exports of Chemical Products grew the fastest in Slovenia ($8.94B), Singapore ($5.86B), Austria ($5.3B), France ($4.8B), and Switzerland ($3.7B).

Between 2022 and 2023, the fastest growing importers of Chemical Products were Switzerland ($9.43B), Slovenia ($4.66B), Belgium ($3.62B), Ireland ($3.05B), and Austria ($2.52B).

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Exporters of Chemical Products (2022 - 2023)

Importers of Chemical Products (2022 - 2023)

Market Concentration

Value

This chart shows the evolution of the market concentration of exports of Chemical Products.

In 2023, market concentration measured using Shannon Entropy, was 4.96. This means that most of the exports of Chemical Products are explained by 31 countries.

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Value of Exports in Chemical Products

Net Trade

TOP NET EXPORTER (2023)Ireland$113B
TOP NET IMPORTER (2023)United States$76.8B

This map shows which countries export or import more of Chemical Products. Each country is colored based on the difference in exports and imports of Chemical Products during 2023.

In 2023, the countries that had a largest trade value in exports than in imports of Chemical Products were Ireland ($113B), Germany ($62.6B), China ($61.4B), Switzerland ($49.9B), and France ($28.8B).

In 2023, the countries that had a largest trade value in imports than in exports of Chemical Products were United States ($76.8B), Brazil ($41B), Mexico ($21.5B), Turkey ($14.5B), and Poland ($13B).

Net Trade (2023)

Disaggregation

Value
Disaggregation

In 2023, the world most traded Chemical Products, disaggragated by their HS6 level were Pharmaceutical products ($854B), Organic chemicals ($502B), Chemical products n.e.s. ($239B), Inorganic chemicals ($196B), and Perfumery & cosmetics ($172B)

HS6 Disaggregation for Chemical Products (2023)
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Country Comparison

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Ranking

This visualization shows the countries that have an important ratio of their trade related to Chemical Products.
It is possible to select the main countries that export or import Chemical Products in the world, or by continent, as well as select the measure of interest.

Top 10 Exporters Countries of Chemical Products by percentage of total exports

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALUnited Kingdom+ $1.72B
TOP IMPORT POTENTIALSwitzerland+ $331M

Chemical Products’s highest export potential is United Kingdom. With an export gap of $1.72B.  Chemical Products’s highest import potential is Switzerland with an import gap of $331M.

See methodology.

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Product Complexity

Diversification Frontier

Specialization

The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.

Relatedness vs Country Complexity (2023)

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